FIRST UNITED CORP (FUNC:NASDAQ)

First United Corporation is the parent company of First United Bank & Trust, a Maryland trust company, and three statutory trusts that were used as financing vehicles. The Bank has three wholly-owned subsidiaries: OakFirst Loan Center, Inc., a West Virginia finance company; OakFirst Loan Center, LLC, a Maryland finance company, and First OREO Trust, a Maryland statutory trust formed for the purposes of servicing and disposing of the real estate that the Bank acquires through foreclosure or by deed in lieu of foreclosure. Until March 27, 2013 when the entity was dissolved, the Bank owned a majority interest in Cumberland Liquidation Trust, a Maryland statutory trust formed for the purposes of servicing and disposing of real estate that secured a loan made by another bank and in which the Bank held a participation interest. The Bank also owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership; a Maryland limited partnership formed for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland.

Yearly Financials

Approximate Employees: 331
FYE 12/31 		2013201220112010
(in thousands, except per share amounts)
Total Interest Income 49,914 53,111 59,496 70,747
Net Income 6,446 4,663 3,626 (11,756)
Net Income Percent Change 38.24 28.60 N/A N/A
Profit Margin 12.91 8.78 6.09 N/A
Stockholders' Equity 101,340 98,905 96,656 95,640
Stockholders' Equity Per Share 16.32 15.95 15.63 15.51
Return on Stockholders' Equity 6.52 4.82 3.79 N/A
Earnings Per Share 0.75 0.48 0.33 (1.91)
Dividends Per Share 0.0000 0.0000 0.0000 0.1300
Average Shares Outstanding Diluted 6,211 6,199 6,183 6,166

 

Quarterly Financials

Approximate Employees: 331
FYE 12/31 		Quarter
Ended
9/30/14		 Quarter
Ended
9/30/13
(in thousands, except per share amounts)
Total Interest Income 11,497 13,979
Net Income 665 1,388
Earnings Per Share 0.10 0.22

Company Contact:
Name: Carissa L. Rodeheaver
Title: Chief Financial Officer
Phone: (301) 533-2362